Glendale-Chevy Chase/E. Glenoaks (624) Homes with Apartment Subtype

Welcome to the charming neighborhoods of Glendale-Chevy Chase and E. Glenoaks, nestled in the heart of Los Angeles County, California. This vibrant region is known for its picturesque tree-lined streets, friendly community atmosphere, and a perfect blend of urban convenience and suburban tranquility. With a rich history and a diverse cultural landscape, Glendale has become a sought-after destination for families, professionals, and retirees alike.

One of the standout features of this area is its unique housing options, particularly homes with an apartment subtype. These properties offer an incredible opportunity for multi-generational living or rental income potential, making them ideal for savvy investors and families seeking extra space. Imagine living in a beautiful, spacious home while having the flexibility of an attached apartment for guests, older children, or even as a source of passive income.

The Glendale-Chevy Chase and E. Glenoaks neighborhoods boast excellent schools, parks, and recreational facilities, making it a perfect place for families to thrive. Residents enjoy easy access to an array of shopping and dining options, with the bustling Americana at Brand and Glendale Galleria just a stone's throw away. Additionally, the area's proximity to major freeways and public transportation ensures that you’re never far from the vibrant heart of Los Angeles.

Whether you're looking to settle down in a welcoming community or invest in a versatile property, Glendale-Chevy Chase and E. Glenoaks offer an ideal blend of comfort, convenience, and opportunity. Come explore the possibilities in this enchanting region!

Newest Glendale-Chevy Chase/E. Glenoaks (624) Homes with Apartment Subtype

$2,299,000

BB26104554 MLS ⋅ Active Under Contract Status

650 W Wilson Ave is an exceptionally rare 8-unit generational asset, offered for the first time ever in one of Glendale's most desirable rental pockets just steps from The Americana at Brand. What truly separates this opportunity is its immediate development potential. Both rear 1- bedroom units, that make up the back structure, will be delivered vacant, allowing a buyer to begin construction immediately after closing without the cost, delays, or uncertainty of tenant relocation. A contractor bid has already been completed to combine the two vacant units into a spacious 3 Bed / 3 Bath residence while adding an additional 3 Bed / 3 Bath ADU in the existing parking area. Buyers have the flexibility to either create two large 3 Bed / 3 Bath units or simply keep the existing 1-bedroom units and add a 9th unit, allowing them to tailor the project to their investment strategy while significantly increasing rental income. Unlike most value-add opportunities that require years of turnover, this project can begin on day one. Buyers also have the flexibility to complete only the ADU, only the conversion, or both projects depending on their investment strategy. Our team can also assist with project management using the same contractor who prepared the bid, creating a streamlined path from acquisition to completion. Beyond the development upside, the property offers strong in-place cash flow with a 5.80% current cap rate and a 7.26% pro forma, both calculated using real operating expenses and a 4% management fee. The six existing 2-bedroom units have seen numerous interior upgrades including cabinetry, countertops, flooring, and updated electrical panel breakers, minimizing future capital expenditures while providing additional rental upside. Combining an irreplaceable Glendale location, immediate income, and one of the easiest value-add opportunities currently available, 650 W Wilson represents a rare chance to acquire a true legacy asset with multiple paths to increasing long-term value.

650 W Wilson, Glendale

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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.